Dividing property during a divorce in Orlando, Florida, can be challenging. You and your spouse might disagree over how asset division is handled or fight over certain pieces of property. The longer it takes to resolve your differences, the longer (and more expensive) your divorce will be.
The Orlando property division lawyers at Conti Moore Law Divorce Lawyers, PLLC can help you identify a winning strategy and fight for the results you want.
Our award-winning family law attorneys have over 50 years of collective experience helping clients navigate complicated and stressful property division issues. Contact our Orlando law office to find out how we can help you divide your marital assets during your divorce. Your first consultation is free, so call now at (407) 831-0203.
How Conti Moore Law Divorce Lawyers, PLLC Can Help You Divide Your Marital Property
Before a judge approves your divorce, you’ll have to figure out how to divide your marital assets. You and your spouse might have different ideas about how your property should be divided.
When you’re in the middle of a contentious process like a divorce, it’s easy for emotions to take over and decisions to be made out of spite rather than logic.
Hiring an Orlando family law attorney to represent you can help you achieve your goals and protect your rights. When you choose Conti Moore Law Divorce Lawyers, PLLC, you’ll benefit from a team of top-rated attorneys who are sympathetic to the difficult task facing you.
You’ll benefit from our decades of experience navigating complex issues, such as asset:
- Identification, classification, and accounting
We’ll enlist the assistance of leading financial, business, and property specialists throughout the allocation process. Our goal will be to ensure that all assets are accounted for and that your final property division agreement reflects your desired outcome.
Call our law firm in Orlando, FL to discuss the specifics of your divorce and family law dispute. Your first case evaluation is free.
Overview of Florida’s Property Division Laws
Florida is an equitable division state. Under FL §61.075, marital property must be divided in a way that’s fair but not necessarily equal.
What Property is Subject to Division During an Orlando Divorce?
In the context of a divorce, there are two types of property: separate property and marital property.
Separate property is typically anything owned exclusively by one spouse before the marriage. Additionally, property that’s inherited or specifically gifted to one spouse is considered separate property.
Marital property includes the assets and debts acquired during the marriage by either spouse.
Examples of marital property typically include:
- Family homes
- Household goods
- Wages and income
- Retirement savings
- Interests in business
- Investments, including stocks and bonds
There are times when the enhancement or improvement of the value of nonmarital assets can be considered marital property, as well.
Let’s say one spouse acquires property before the marriage. Before the marriage, the property was valued at $10,000. Throughout the marriage, marital funds are used to improve the property, and it appreciates to $50,000. The $40,000 increase in value could be considered marital property because marital funds were used to enhance the property.
Can Separate Property Become Marital Property?
Yes. Under Florida law, it’s possible to have separate property converted into marital property. This is often accomplished when property or funds are commingled, or combined.
Imagine spouse A has a savings account with $10,000 before getting married. After marriage, spouse A adds money from his paycheck to the account. Marital funds (his wages) have been mixed with his separate property (pre-marital savings). During a divorce, spouse B could argue that the savings account is now entirely marital property.
Separate property can also become marital property if it’s used to purchase marital assets or goods. For instance, if spouse A used some of his savings to buy a new couch, groceries, and everyday household supplies, those things and the savings account might be considered marital assets.
Similarly, separate property can become marital property when a spouse is legally added as an owner. If spouse A owned a home and added spouse B to the deed after they were married, it would be considered a marital asset.
Factors Considered When Dividing Property Equitably in a Florida Divorce
Spouses have the opportunity to figure out how the distribution of marital assets and liabilities should unfold in a way that’s fair and equitable during their divorce. If they can’t – either on their own or through a process like mediation – then a court will get involved and decide for them.
What does a family law court in Florida consider when dividing marital property?
- How long the marriage lasted
- Each spouse’s income and/or their ability to earn an income after the divorce
- Each spouse’s debts and liabilities
- Each spouse’s career and education
- Whether the spouses have children, and if so, how child custody will be arranged
- The contribution of each spouse to the marriage (e.g., whether one spouse gave up a career to support the other and/or raise a family, or how much financial support was provided)
- Whether certain assets are difficult to distribute or divide (e.g., a business)
Judges will look at how assets are treated by each spouse immediately before or after filing the petition for divorce. Is there evidence that money is being spent maliciously to reduce the marital portfolio or in a way that doesn’t enhance the marriage?
The spouse behind the intentional spending or liquidation might be penalized when assets are divided during the divorce. The court might award the other spouse additional assets or cash to compensate for this behavior.
Dividing Assets and Debts Equitably Can Be Challenging
When figuring out how to divide property during your divorce, you’ll probably have to take many different steps, including:
- Identify all marital assets and debts.
- Determine the current value of each asset and liability.
- Determine which assets and debts you’re interested in keeping after the divorce is final.
- Determine how each marital asset should be allocated.
This sounds simple, but it’s actually quite complex.
Sometimes spouses try to hide assets so that they aren’t identified during this process. Other times, valuation is difficult. It can also be challenging to agree on how assets should be divided – if one spouse receives property entirely, if the property should be physically divided (if possible), or if it should be liquidated and the cash shared.
Hiring an experienced Orlando property division attorney can help to ensure that every detail is covered. At Conti Moore Law Divorce Lawyers, PLLC, we use our extensive legal experience and knowledge and work closely with respected experts throughout the process.
We often enlist the aid of:
- Certified appraisers
- Forensic accountants
- Real estate professionals
- Tax specialists
- Retirement plan consultants
When necessary, our law firm will subpoena records and documents, including tax records, bank account statements, and investment holdings, to ensure that we’re working with all necessary information.
Our goal is to ensure that property is divided fairly and in a way that reflects our clients’ goals. Outside assistance from experts often helps to make this possible.
Schedule a Free Consultation With an Orlando Property Division Lawyer
Whether you’re just getting started with your divorce or have realized that you and your spouse just aren’t going to agree about how assets (and debts) should be handled, Conti Moore Law Divorce Lawyers, PLLC can help.
Our Orlando property division lawyers have more than 50 years of combined experience in the family law system. We’re recognized and respected for our ability to achieve successful outcomes for our clients.
We value collaboration and negotiation, but we’re seasoned divorce attorneys who are unafraid to take a dispute to the courtroom.
When you turn to our law firm for help, you’ll have Orlando divorce lawyers in your corner who are passionate about helping you achieve your goals.
We offer a free case evaluation. Contact our central Florida law office to schedule yours today. Our team would be happy to listen to the details of your situation and explain how we can help.
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